TIL Desk/Business/Mumbai/ The rupee pared its early losses to recover by 14 paise to 63.39 per dollar in afternoon deals on good bouts of dollar selling from banks and exporters. The rupee opened lower at 63.59 per dollar from yesterday’s closing level of 63.53 a dollar at the inter-bank foreign exchange market today.
Later, it fell to 63.62 a dollar before rebounding to 63.50 on dollar selling by banks. It was quoting at 63.39 at 1210 hrs. The domestic unit hovered between 63.62 and 63.36 per dollar during morning deals.
The US dollar extended gains against basket of currencies in early Asian trade, after upbeat US data and supportive minutes from the Federal Reserve s latest policy meeting helped it shake off recent weakness.
The benchmark BSE Sensex was trading higher by 101.89 points or 0.30 per cent at 33,895.27 at 1220 hrs on buying in Metal, Capital Goods, Consumer Durables, Finance, Banks and Energy sectors on the back of higher Asian cues. Oil prices hovering at 2 1/2-year highs on Iran’s anti- government protests raising concerns about supplies restricted the stocks’ movement in morning trade.
